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WA CO CA
Palmer Capital Inc. is pleased to announce the successful refinancing of the Legacy Portfolio. Palmer Capital successfully represented Legacy Partners in the refinancing with a privately held bridge lender. The Legacy Portfolio is comprised of five office assets and one industrial asset in select markets in the West with a total of approximately 900,000 square feet.
Salt Lake City Industrial Portfolio
Salt Lake City
Palmer Capital Inc is pleased to announce the successful sale transaction of the Salt Lake City Industrial Portfolio to Cobalt Capital Partners, an industrial REIT, from ScanlanKemperBard. This marks the first acquisition for Cobalt Capital Partners in the Salt Lake City market. The Salt Lake City Industrial Portfolio is a 890,452 square foot, institutional quality, multi-tenant Industrial portfolio. The 14 building portfolio was approximately 90% occupied at the time of sale and can accommodate a diverse range of tenant sizes from 1,000 SF to 173,000 SF.
Valley Fair Mall
Salt Lake City
Palmer Capital Inc is pleased to announce the successful recapitalization of Valley Fair Mall. Palmer Capital Inc represented Coventry Advisors and arranged a structured loan with flexibility to fund future advances to complete a complex value-add business plan that entails new construction and the re-tenanting of certain retail space within the mall. Valley Fair Mall is a 850,000 square foot super regional mall and entertainment property located in Salt Lake City, Utah anchored by Costco, JC Penney, and Macy's.
Palmer Capital Inc. is pleased to announce the successful sale of Christown Spectrum. Kimco Realty Corporation purchased the property from Coventry Real Estate. Christown Spectrum is a 848,840 square foot destination retail center located in Phoenix. The property is anchored by Walmart, Costco, and SuperTarget and also features a 14-screen Harkins Theatre.
Kent East Corporate Park
Palmer Capital Inc. is pleased to announce the successful negotiation and sale of the Kent East Corporate Center Park in Kent, Washington. RREEF purchased the property from New York Life. Kent East Corporate Park consists of eight multi-tenant industrial buildings totaling 772,763 square feet and is located between I-5, Highway 167, the Sea-Tac International Airport, and the Ports of Seattle and Tacoma.
Hewlett Packard Facility
Amir Development purchased the project from Panattoni Development. Hewlett Packard Facility consists of 2 buildings totaling 769,698 square feet. The facility houses the company's Business Critical Computing Server Manufacturing Unit.
Palmer Capital Inc. is pleased to announce the successful negotiation and sale of City Square at 3800-4000 North Central Avenue in Phoenix, Arizona. Shidler Group purchased the building from Pacific Realty Advisors and The Praedium Group. City Square is a mixed-use property consisting of three high rise Class A office towers totaling 722,373 square feet, a 34,384 square foot full service health club and a newly-renovated 156-room Hilton Garden Inn.
Roseville Office Portfolio
Palmer Capital Inc is pleased to announce the successful close of acquisition financing for the Roseville Office Portfolio. Ellis Partners purchased the property from Hines. The Roseville Office Portfolio is a 670,797 square foot four property, eleven building Class-A office portfolio located in Roseville, California. At close, the property was 55% occupied. The financing arranged by Palmer Capital financed the acquisition and provided additional advances for leasing costs to lease available space to stabilized occupancy.
Roseville Office Portfolio
Palmer Capital Inc is pleased to announce the successful transaction of the Roseville Office Portfolio. Ellis Partners purchased the property from Hines. The Roseville Office Portfolio is a 670,000 square foot office portfolio consisting of four projects all located along Douglas Boulevard. The portfolio was 55% leased at the time of the transaction.
Palmer Capital Inc. is pleased to announce the successful recapitalization of Valley Mall located at 2515 Main Street in Union Gap, Washington. Principal Global Investors purchased an equity position from Oaktree Capital Management. Centercal Properties, the property's owner, operator and developer, retained its interest in partnership with Principal Global. Valley Mall is a 659,447 square foot retail center located in the Yakima/Union Gap trade area. National tenants include Sears, Borders, Old Navy, Ross, Linens N Things, TJ Maxx and Rite Aid.